S&P Downgrades JetBlue’s Credit Rating

Federal regulators have finalized a rule to cap credit card late fees, closing a loophole the Consumer Financial Protection Bureau claims has been long exploited by large credit card issuers. The CFPB finalized the rule Tuesday, thus lowering the typical late fee from $32 to $8 for credit card issuers with 1 million or more open accounts and continuing President Joe Biden's push to eliminate fees on travel and credit cards.

JetBlue Airways and Spirit Airlines announced the companies have agreed to terminate their July 2022 merger agreement.

JetBlue and Spirit Airlines officially ended their merger plans on Monday, weeks after a federal judge blocked the effort. 

JetBlue announced Monday it reached an agreement with Spirit Airlines to terminate its merger. 

JetBlue said Monday that it had terminated its merger agreement with Spirit Airlines, putting an end to the $3.8 billion acquisition nearly seven weeks after the acquisition was blocked by a federal judge.

JetBlue Airways and Spirit Airlines announced on Monday that they would walk away from their planned $3.8 billion merger after federal antitrust regulators successfully challenged the deal in court. JetBlue said it would pay Spirit $69 million to exit the deal.

Hotels can be great — especially when you snag a great deal on points and can get perks like free breakfast thanks to your status with the brand.

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In what may be a last ditch effort, JetBlue Airways and Spirit Airlines have filed an appeals court brief asking that the merger between the two airlines be allowed to proceed.The brief, filed today with the Boston 1st U.S. Circuit Court of Appeals, asks that the court overturn a recent judge’s ruling that stopped the proposed $3.8 billion, according to Reuters. In the brief, the airlines argued that the merger was improperly blocked and pointed out that the same judge who ruled against the airlines joining forces also recognized that such a merger would: ”improve competition, and thus reduce prices, for the vast majority of consumers."

It's a giant banking merger that would create the nation's sixth-largest bank and have potentially significant implications for your credit cards. Capital One this week said it would purchase Discover Financial Services in an all-stock deal that would be worth some $35 billion. It would create the new largest credit card issuer in the world.

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